Shares of Safe Bulkers Inc. (NYSE:SB) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the stock. Two research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $1.55.
A number of analysts have issued reports on the stock. Jefferies Group reiterated a “hold” rating on shares of Safe Bulkers in a research note on Monday, September 12th. Seaport Global Securities assumed coverage on shares of Safe Bulkers in a research note on Tuesday, August 2nd. They issued a “neutral” rating and a $1.00 target price for the company. Morgan Stanley set a $1.20 target price on shares of Safe Bulkers and gave the company a “hold” rating in a research note on Monday, August 1st. Credit Suisse Group AG cut shares of Safe Bulkers from a “neutral” rating to an “underperform” rating and set a $1.00 target price for the company. in a research note on Friday, July 29th. Finally, Zacks Investment Research cut shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research note on Friday, July 8th.
Safe Bulkers (NYSE:SB) opened at 1.41 on Friday. Safe Bulkers has a one year low of $0.30 and a one year high of $3.75. The firm’s market capitalization is $117.70 million. The firm’s 50-day moving average is $1.39 and its 200 day moving average is $1.14.
Safe Bulkers (NYSE:SB) last posted its earnings results on Thursday, July 28th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.01. The firm earned $26.20 million during the quarter, compared to analysts’ expectations of $29.20 million. Safe Bulkers had a negative net margin of 56.19% and a negative return on equity of 5.88%. The company’s revenue was down 17.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. Analysts forecast that Safe Bulkers will post ($0.64) EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in Safe Bulkers during the second quarter valued at approximately $1,435,000. Phoenix Investment Adviser LLC bought a new position in Safe Bulkers during the second quarter valued at approximately $250,000. Paloma Partners Management Co bought a new position in Safe Bulkers during the second quarter valued at approximately $147,000. Kopernik Global Investors LLC boosted its position in Safe Bulkers by 0.6% in the second quarter. Kopernik Global Investors LLC now owns 4,331,124 shares of the company’s stock valued at $4,548,000 after buying an additional 24,453 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Safe Bulkers by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 461,948 shares of the company’s stock valued at $485,000 after buying an additional 18,803 shares during the last quarter. Institutional investors and hedge funds own 12.36% of the company’s stock.
About Safe Bulkers
Safe Bulkers, Inc (Safe Bulkers) is a holding company. The Company’s primary business is the acquisition, ownership and operation of drybulk vessels. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, primarily coal, grain and iron ore, along across the world shipping routes.
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